Crypto

Lawyers for the crypto platform tied to the president's family said a call for an investigation and oversight was "fundamentally flawed." Zach Witkoff, one of the co-founders of the Donald Trump family-backed crypto platform World Liberty Financial (WLFI), has rebuffed efforts by US lawmakers to investigate the president’s potential conflicts of interest. In a May 15 letter to Senator Richard Blumenthal, lawyers for World Liberty Financial claimed a call to investigate the crypto platform was based on “fundamentally flawed premises and inaccuracies.” Witkoff did not specifically address any allegations, claiming that WLFI was “too busy building” for oversight. “The Company rejects the false choice between innovation and oversight,” said the letter. “What it opposes is the misuses of regulatory authority and uncertainty to suppress lawful innovation.” Read more

Lawyers for Eric Council Jr. had requested a sentence of one year and one day, while the US government asked for two years. A federal judge sentenced Eric Council Jr., who participated in posting a fake announcement on the US Securities and Exchange Commission’s X account saying it would approve spot Bitcoin (BTC) ETFs, to 14 months in prison. Following a May 16 hearing in the US District Court for the District of Columbia, the Justice Department announced that Council would serve 14 months in prison after pleading guilty to one count of conspiracy to commit aggravated identity theft and access device fraud. “Schemes of this nature threaten the health and integrity of our market system,” said Jeanine Pirro, interim US Attorney for the District of Columbia. “SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies.” Read more

Christy Goldsmith Romero reportedly said she only planned to leave the financial regulator once Brian Quintenz had been confirmed as CFTC chair. Christy Goldsmith Romero of the US Commodity Futures Trading Commission (CFTC) will step down on May 31, leaving three seats open at the financial regulator. In a May 16 announcement, Romero said her last day at the agency would be on May 31, ahead of her reported initial plans to leave if the Senate confirmed former commissioner Brian Quintenz as the new chair. Her departure will come a day after Commissioner Summer Mersinger is expected to step down to join the crypto advocacy organization the Blockchain Association as CEO. “It has been a tremendous honor to conclude my 23 years of federal service at an agency with such an important mission to ensure that financial markets perform their critical role in the US and global economies,” said Romero. Read more

Singapore-based Basel Medical Group said it is in “negotiations” to put $1 billion in Bitcoin on its balance sheet as it pursues an “Asia growth strategy.”

The healthcare company said that a Bitcoin treasury will help finance its expansion plans. Shares of Basel Medical Group are down around 15% after the healthcare company announced plans to buy $1 billion in Bitcoin for its corporate treasury.  On May 16, Singapore-based Basel said it was “in advanced discussions with a consortium of institutional investors and high-net-worth individuals […] to acquire a US$1 billion BTC through an innovative share-swap arrangement. The company said the benefits of its planned purchase include creating “one of the strongest balance sheets among Asia-focused healthcare providers” and providing “unmatched financial flexibility for mergers and acquisitions.” Read more

CryptoQuant has reported that the ETH/BTC price ratio has surged 38 % from a January 2020 low, placing Ethereum in what the firm calls an extreme undervaluation zone. Rising ETF allocations and the lowest ETH exchange inflow ratio since 2020 point to stronger demand and lighter selling pressure. The post Ethereum Flashes Extreme Undervaluation – CryptoQuant Eyes 38% ETH/BTC Rally Soon appeared first on Cryptonews.

Bitcoin price breakouts have been capped at $104,000, but a rally through the resistance could open the door for a run to $130,000. Key points: A Bitcoin price close above $105,000 could accelerate momentum and trigger a rally to $130,000. Ether continues to gain strength, which is being mirrored by many altcoins. Read more

World Liberty Financial has publicly rebuffed a Senate investigation into the USD1 stablecoin’s governance, security risks and alleged Trump links. The firm, via BakerHostetler, has said USD1 is fully backed by U.S. Treasuries, transparent, and not connected to the Trump meme coin. The post WLFI Slams Senate’s USD1 Stablecoin Inquiry as Trump Links Spark National-Security Alarm appeared first on Cryptonews.

Nyan Heroes, a Solana game featuring cats in robot suits, is coming to an end. The price of NYAN is now down nearly 99% from peak.

France is deploying new security measures to protect crypto entrepreneurs after a rash of violent kidnapping attempts raised alarm across the country’s tech sector and ignited political pressure on Interior Minister Bruno Retailleau, AP News reported on May 16. The ministry confirmed that Retailleau met privately with crypto founders to discuss personal safety. According to […] The post France ramps up efforts to tackle rising crypto kidnappings after failed attempt goes viral appeared first on CryptoSlate.

ChatGPT maker OpenAI is pushing software development into new territory with cloud-based AI agents that work while you're at lunch.

Regulatory filings show that Nvidia increased its stake in CRWV by the end of the first quarter to 24.2 million shares from 17.9 million shares. Shares of AI cloud computing company CoreWeave (CRWV) surged on May 16 after chip giant Nvidia revealed a large ownership stake, signaling growing corporate and institutional interest in the newly public company. CRWV stock climbed as much as 26.3% in New York trading, pushing its market capitalization above $38 billion. Trading volumes were more than double the daily average, according to Yahoo Finance data. The stock was last seen trading around $81, up 23% on the day. Read more

In Q1 2025, DeFi TVL decreased 64% QoQ to $6.6 billion, though TVL (SOL) rose 18%, maintaining Solana’s rank as the second-largest network by DeFi TVL. Chain GDP increased 20% QoQ as applications earned $1.2 billion, driven largely by speculative activity in January during the TRUMP token craze. DeFi saw an extremely active quarter as average daily DEX volume (USD) increased 40.8% QoQ to $4.6 billion, and the stablecoin market cap increased 145.2% to $12.5 billion. Network usage saw mixed results as average daily non-vote transactions grew 17% QoQ, while average daily fee payers declined 22%. The liquid staking rate increased from 9.1% to 10.4%, led by continued growth in Jito’s jitoSOL product. Infrastructure developments included the widespread adoption of the Agave V2.0 client and early mainnet deployment of Firedancer components. Governance votes on reward distribution and inflation mechanisms reflected increased stakeholder participation. Financially, SOL’s market cap fell 30% QoQ to $64 billion. Externa...

Coinbase faces a $400 million phishing bill after cybercriminals managed to bribe overseas support agents to expose the personal data of the exchange’s users. News broke on May 15 that Coinbase was the target of a $20 million extortion attempt after cybercriminals recruited overseas support agents to leak user data for social engineering scams. While less than 1% of Coinbase’s active monthly users were reportedly affected, the expected remediation and reimbursement expenses range from $180 million to $400 million, as the exchange pledged to repay all phishing attack victims. Despite the attack on the world’s third-largest cryptocurrency exchange, investor sentiment remains optimistic, with the Fear & Greed Index remaining firmly in the “Greed” zone above 69, according to CoinMarketCap data. Read more

The integration, initially supporting Ethereum and BNB Chain, addresses cross-chain security concerns and aims to expand USD1’s reach, the firms said.

Her departure will leave the CFTC with just two commissioners, at least until new chair Brian Quintenz is confirmed by the Senate and sworn in.

Saudi Arabia's Central Bank has confirmed a 25,656-share purchase of Strategy, mirroring Norway’s wealth-fund playbook and giving the Kingdom indirect exposure to 568,840 Bitcoin, valued near $60 billion. The step coincides with Saudi leadership of MENA’s crypto growth despite sparse domestic rules. The post Saudi Central Bank Secures $60B Bitcoin Exposure via Strategy Stake appeared first on Cryptonews.

Coinbase user Data Hacked, FTX Repayments Coming, Bond Yields soar FOMO HOUR EP359 Hackers demand $20m after Coinbase data hacked. SEC probes Coinbase on inflating user numbers. FTX to begin $5b distribution on May 30. Wisconsin Investment Board exits BTC ETF. China’s DDC Enterprise to adopt BTC reserves. China’s Addentax to buy 8k BTC. Brazil’s Meliuz buys $28.4m BTC for reserve. BTC to $1m, altcoins with products will win: Hayes. BTC has more upside potential than gold: JPM. SEC releases FAQs on broker-dealer transfer rules. BlackRock integrates BUIDL with Euler. Sonic Labs to liquidate Multichain Foundation. Nasdaq grants extension on 21Shares DOT ETF. ADA ETF approval 55% likely this year. Tether’s freeze mechanism has loophole: AMLBot. US DoJ indicts 12 for $263m crypto theft. US DoJ to charge Tornado Cash’s Roman. CoinMarketCap launches Pre-TGE project launchpad. FOMO HOUR brings you the biggest daily news, updates and events from inside and outside of the crypto and macro spheres! Join hosts Farokh, Ma...

Bitwise chief investment officer Matthew Hougan said that a Bitcoin supply shock is coming, driven by heightened demand from institutions. Matt Hougan, chief investment officer at Bitwise, predicts Bitcoin (BTC) will reach $200,000 by the end of 2025 due to a supply shock from heightened institutional demand. In an interview with Cointelegraph at Consensus 2025 in Toronto, the executive said that Bitwise's Bitcoin price prediction model is driven exclusively by supply and demand metrics. Hougan laid out the specific figures driving the forecast: "I think eventually that will exhaust sellers at the $100,000 level where we have been stuck, and I think the next stopping point above that is $200,000," the executive said. Bitwise is one of the issuers of Bitcoin exchange-traded funds (ETFs) in the US markets, with nearly $4 billion in assets under management through its Bitwise Bitcoin ETF (BITB) as of May 14. Read more

Tron's blockchain processes over $1 billion in daily transactions despite price consolidation.